Perth's top 10 house, unit markets revealed, as record-breaking momentum eases
Perth's housing market delivered another year of record-breaking price growth in 2025-26, but a more balanced market is emerging after three years of exceptional gains.
Perth’s remarkable property run continued through the 2025-26 financial year, delivering another year of double-digit price growth and pushing both house and unit prices to record highs.
Yet beneath those headline figures, the market is beginning to change.
After three years of relentless competition, shrinking stock levels and extraordinary buyer demand, Perth is showing the first clear signs of returning to a more balanced market. While annual growth remains among the strongest in the nation, buyers now have more choice, homes are taking longer to sell and the pace of price growth is beginning to moderate.
According to REIWA data released Monday (13 July), Perth’s median house sale price rose 16.3 per cent over the financial year to reach a record $930,000, while the median unit price surged 21.8 per cent to $670,000.
Top 10 suburbs for median sale price growth (houses)
| Suburb | Annual median house sale price | Change in annual median house sale price | Annual median selling days | |
|---|---|---|---|---|
| 1 | Viveash | $855,000 | 45.5% | 14 |
| 2 | North Beach | $2,208,000 | 38.0% | 13 |
| 3 | Bellevue | $771,000 | 36.5% | 13 |
| 4 | Bicton | $2,255,000 | 35.0% | 10 |
| 5 | City Beach | $4,100,000 | 34.0% | 17 |
| 6 | Middle Swan | $800,000 | 31.2% | 12 |
| 7 | Mosman Park | $2,950,000 | 31.1% | 15 |
| 8 | Osborne Park | $995,000 | 30.2% | 9 |
| 9 | Hilton | $1,230,000 | 30.0% | 10 |
| 10 | Embleton | $1,078,500 | 29.9% | 12 |
Source: REIWA. Filtered for suburbs with 28 or more house sales on <1HA in 2024-25 and 2025-26.
REIWA President Suzanne Brown said the market’s exceptional performance was largely driven by extremely low listing levels through most of the year.
“The median house sale price increased 16.3 per cent over the financial year to $930,000, while the median unit sale price recorded 21.8 per cent growth to reach a high of $670,000,” Ms Brown said.
“This was due to low listing levels in the first three quarters of the financial year and ongoing strong demand.”
She said the June quarter marked an important turning point.
“We saw a shift in the market in the June 2026 quarter, where the number of new listings coming to market increased, exceeding the five-year average for new listings.”
Demand also eased following three consecutive interest rate increases, rising living costs, geopolitical uncertainty and the Federal Government’s taxation changes affecting property investment.
“This has eased the upward pressure on property prices and we expect to see the rate of price growth slow significantly over 2026-27,” Ms Brown said.
Price growth remains widespread
Despite the moderation, Perth continued producing outstanding performers across both the house and unit markets.
Viveash led the house market, with its median sale price soaring 45.5 per cent over the year to $855,000.
Other standout performers included North Beach (38.0 per cent), Bellevue (36.5 per cent), Bicton (35.0 per cent) and City Beach (34.0 per cent).
The unit market was even stronger in some locations.
East Fremantle topped the rankings with annual growth of 51.6 per cent, followed by Highgate (41.3 per cent), Bayswater (39.5 per cent) and Attadale (38.0 per cent).
Top 10 suburbs for median sale price growth (units)
| Suburb | Annual median unit sale price | Change in annual median unit sale price | Annual median selling days | |
|---|---|---|---|---|
| 1 | East Fremantle | $897,500 | 51.6% | 11 |
| 2 | Highgate | $692,500 | 41.3% | 7 |
| 3 | Bayswater | $600,000 | 39.5% | 8 |
| 4 | Attadale | $890,000 | 38.0% | 11 |
| 5 | Doubleview | $922,500 | 34.1% | 8 |
| 6 | Spearwood | $572,500 | 33.5% | 8 |
| 7 | Crawley | $900,000 | 33.3% | 9 |
| 8 | West Leederville | $657,500 | 32.8% | 10 |
| 9 | Yokine | $689,000 | 32.5% | 5 |
| 10 | Shoalwater | $540,000 | 30.9% | 8 |
Source: REIWA. Filtered for suburbs with 28 or more unit sales in 2024-25 and 2025-26.
Although homes are no longer disappearing within days quite as consistently as they were earlier in the year, properties are still selling remarkably quickly by historical standards.
After falling to little more than a week during parts of the financial year, the median selling time increased to 18 days by June.
“While this is a significant change over the course of a few months, selling timeframes are still well below the 50-day average seen in the five years preceding COVID,” Ms Brown said.
Stratton proved Perth’s fastest-selling house market, with homes selling in a median of just six days, while Yokine units were snapped up in only five days.
The next million-dollar suburbs
While Perth’s overall market is cooling from its recent highs, some of its most affordable owner-occupier suburbs may still have considerable growth ahead.
Ray White Group Economist Atom Go Tian believes the market is entering a new phase where growth will increasingly be driven by owner-occupiers rather than investors.
“A house in Marangaroo, in Perth’s northern suburbs, costs $933,000 today,” Mr Go Tian said.
“Even at half its current growth rate, it will cross $1 million within 12 months.”
According to Mr Go Tian, Perth dominates Australia’s list of suburbs likely to become the nation’s next million-dollar markets because many of its affordable suburbs still have relatively low levels of investor ownership.
Unlike inner-city markets in Sydney, Melbourne and Brisbane, which have much higher concentrations of investors, Perth’s emerging growth suburbs remain heavily owner-occupier driven.
“The suburbs approaching the threshold are not being carried by investor activity,” he said.
“Where investors are thin, the pullback has less to work with.”
That distinction may prove increasingly important as recent Federal Government tax reforms reshape investor activity around the country.
Data released by Ray White on Monday found suburbs with the highest concentration of investors are already experiencing the weakest annual price growth, while lower-investor suburbs continue outperforming.
A healthier market, not a weaker one
The market conditions now emerging may actually benefit buyers.
Higher listing numbers are providing greater choice, reducing the intense competition that defined much of the past three years and allowing purchasers more time to make decisions.
Rather than signalling a downturn, many commentators see Perth moving towards a healthier balance between buyers and sellers after an extended period of exceptionally strong conditions.
The city’s underlying fundamentals remain intact.
Population growth remains strong, housing supply continues to lag demand and affordability, although deteriorating, still compares favourably with Australia’s eastern capitals.
Rental market remains tight
While the sales market is becoming more balanced, Perth’s rental market continues to face supply pressures.
REIWA reported Perth’s median weekly house rent reached a record $750 during 2025-26, up 9.5 per cent over the year, while median unit rents increased 7.7 per cent to $700 per week.
Ms Brown said investor hesitation following recent Federal Government tax changes remained a concern for future rental supply.
“If supply remains static or, worse, declines again, we will see increased upward pressure on rent prices and affordability,” she said.
